The Canada Business Corporations Act, the federal legislation that governs business corporations, provides several protections for minority shareholders, many of which are also available under provincial business corporations statutes.

The two most common forms of corporate entity in Canada are the public company (generally involving a stock exchange listing) and the private company (generally closely held). Joint ventures are typically structured as private companies.

In the absence of specific provisions in a company’s bye-laws or a shareholders’ agreement, are any remedies available at law in the event of an unresolved dispute between shareholders resulting in deadlock?

On October 9, 2007, Jim Prentice, Minister of Industry, announced that this fall the government of Canada will consider introducing new guidelines on takeovers by foreign state–owned enterprises; and
amending the Investment Canada Act to permit the review of foreign investments that could compromise Canada’s national security.